How to Get GST Number for Sole Proprietorship Company in India



How to Get GST Number for Sole Proprietorship Company in India

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 Sole Proprietorship is the most common business model in India. These businesses are easy to set up and have low compliance requirements. However, these businesses are not exempt from mandatory GST filings. It is recommended that these businesses obtain their GSTIN as soon as they cross the required turnover threshold. In this article, we will discuss the procedure of getting a GSTIN for a sole proprietorship business in India.

The first step is to apply for a GSTregistration Process Consultant online. This can be done by visiting the official GST portal and clicking on the 'Register' link. Once the application is successfully submitted, the system will send an OTP to your Aadhar linked mobile number. The OTP is to verify the authenticity of your details. Once this is successful, the system will display an ARN (Application Reference Number). The ARN is to be noted down for future use.

Once you get your GSTIN, you can start filing regular GST returns. As a sole proprietorship, you will be required to file a monthly return called GSTR-3B that summarizes your sales and purchases. This return is due on the 20th of every month. You will also be required to file an annual return called GSTR-9, which summarizes your entire year's worth of sales and purchases.

While registering for GST Portal, it is important to note that the legal name of your business should match your PAN card. This is because a proprietorship firm is owned by an individual and not by a company or partnership. It is a good idea to consult an attorney or accountant when deciding on the correct legal name for your business.

 

 

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